Maruti shares up about 1 per cent as Manesar plant reopens

MUMBAI: Shares of Maruti Suzuki India today settled about one per cent higher after the company resumed production at its Manesar plant amid heavy security, a month after a lockout was declared due to violence.

The scrip closed 0.68 per cent up at Rs 1,185.10 on the BSE. Intra-day, the stock gained 1.55 per cent to Rs 1,195.3.

At the NSE, the stock ended 0.96 per cent higher at Rs 1,188.90.

The stock has lost about 4 per cent since the plant closure.

"Production has resumed at the Maruti Suzuki Manesar plant this morning," a company spokesperson today said.

The company had earlier announced that only 300 permanent workers will resume work in a single shift. Initially, about 150 cars are expected to be rolled out every day instead of the plant's normal capacity of 1,500-1,700 units.

The company had declared a lockout at Manesar plant on July 21 following the July 18 violence. The overall production loss during the lockout was pegged at around Rs 1,400 crore.